Need to save? Weka-weka na KCB M-PESA and grow your money easily on your phone. Saving means you enjoy quick mobile loans from this loan app, with interest rates of over 6% p.a*. It’s fast and easy, plus, the more you save, the more you can borrow. Go to MPESA>Loans & Savings>KCB MPESA>Open Target Savings Account to get started. T&Cs Apply* KCB Loans

What are the interest rates on loans?

1.06% per month with a one off negotiation fee of 6.44%. The cost for the one month loan is 7.5% including excise duty applicable on fees.

How to Save

1. Go to the M-PESA menu

2. Select loans and savings

3. Select KCB MPESA

4. Select Open Target Savings Account

GET A LOAN

1. Go to M-PESA >Loans & Savings

2. Select KCB M-PESA

3. Select loan > Request Loan > Enter Amount

4. Enter KCB M-PESA PIN

What are the requirements to have a KCB M-PESA Account?

Be a registered and active Safaricom M-PESA customer.

Today, we are going to share different types of KCB Loans. The Kenya Commercial Bank (KCB) is a financial institution in Kenya that was founded in 1896. The bank has risen up the ranks to become one of the best banks in Kenya.

It’s head office is located along Moi Avenue at Kencom House. KCB sometimes back came up with different types of loans that cater for different needs of people across the nation and today, we are going to take a look at them.

Their interests vary depending on which type of loan one applies for.

Types of KCB Loans

Secured Loans

This type of loan is given to individuals who have collateral. Eg: shared certificates, log books or title deeds.

Benefits

  • Interest rates are very competitive
  • Repayment period is up to 5 years (60 months)

Standard Requirement

  • Have an active account with KCB for at least 3 months and above.
  • Have an original and photocopy of either your National ID or Passport.
  • Have employment card where applicable.
  • Have original pay slips that are recent.
  • Demonstrate that you have a source of income if you are a self-employed person.

Rates and Fees

  • The repayment period is up to 5 years (60 months)
  • Interest rate is 13% (9% is CBR rate and 4% is Bank Variable margin).
  • The negotiation fees is 2.5%.
  • Other fees eg. Insurance premium fee will be advised accordingly by the personal banker at the branch of your choice.

Unsecured Check Off Loan

This special type of loan is given to employees who work with Government institutions and companies that have a check-off agreement with KCB Bank.

Benefits

  • One can borrow loans from as low as Ksh. 10,000 and high as Ksh. 5,000,000.
  • Repayment period is up to 6 years (72 months).

Standard Requirements

  • Have an active account with KCB for at least 3 months and above.
  • Present an employment card if needed.
  • Present pay slips for the last 3 months.

Rates and Fees

  • Repayment period plan of up to 6 years (72 months).
  • Interest rate is 13% (9% is CBR rate and 4% Bank Variable margin).
  • Other fees eg. Insurance premium fee will be advised accordingly by the personal banker at the branch of your choice.

KCB Contacts

Tel: +254 (20) 3270 000

+254 732 187 000

+254 711 087 000

SMS: 2252

Email: contactcentre@kcbgroup.com

I hope that this post about types of KCB Loans has been of great help to you.